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BGM.v $BGMZF BGM Expands Mineralization by 175 Meters at Island Mountain

NEW DRILLING INTERSECTS 19.34 G/T GOLD OVER 17.9 METERS

Barkerville Gold Mines Ltd. (CNW Group/Barkerville Gold Mines Ltd.)
by @newswire on March 26, 2019
TORONTO, March 26, 2019 /CNW/ - Barkerville Gold Mines Ltd. (TSXV: BGM. the "Company" or "BGM") is pleased to announce the new drilling results from the 2019 Island Mountain exploration and category conversion program at the Company's flagship Cariboo Gold Project in central British Columbia.

In January 2019, BGM commenced diamond drilling with five diamond drill rigs on Island Mountain Shaft Zone and Mosquito Creek deposits to investigate down dip extensions on the mineralized vein corridors as well as shallow infill high-grade zones. New results include 19.34 g/t Au over 17.9 meters in IM-19-013, extending a mineralized vein corridor on Shaft Zone 70 meters down dip. The current mineralization on Mosquito Creek is modelled to a depth of 200 meters and recent high-grade intercepts include 10.65 g/t Au over 4.2 meters in IM-19-004 at a depth of 375 meters from surface. These results, as well as the highlights summarized below, demonstrate continuity of grade and widths within the modelled vein corridors, expansion of mineralization at depth and anomalous mineralization between the vein corridors.

Select Drilling Highlights:

IM-19-004 is located at Mosquito Creek and intersected 10.65 g/t Au over 4.2 meters which extended the mineralization at Mosquito Creek from 200 meters to 375 meters. This is one of the deepest holes at Mosquito Creek to date.

IM-19-007 was designed to test for new vein corridors within the sandstone along strike of the Shaft Zone to the north west. IM-19-007 assayed 10.06 g/t Au over 13.15 meters and is 20 meters from surface.

IM-19-010 intersected a mineralized zone of fine disseminated pyrite within silica sericite alteration adjacent to the Mosquito Fault and modelled vein corridors. IM-19-010 assayed 1.25 g/t Au over 33.25 meters. A sample within this zone assayed 9.57 g/t Au over 1.5 meters. This mineralization is hosted in calcareous sandstone between the vein corridors and is 120 meters down plunge of IM-18-102 that assayed 1.35 g/t Au over 32.8 meters (a sample in this zone assayed 20.1 g/t over 0.5 meter) and 60 meters down plunge of hole IM-18-155 that assayed 1.32 g/t over 45.2 meters (a sample within this zone assayed 8.89 g/t Au over 1.25 meters). Mineralization between vein corridors will significantly reduce mining dilution.

IM-19-012 is located at Shaft Zone and intersected previously unmodelled quartz vein mineralization that assayed 7.02 g/t Au over 10.25 meters.

IM-19-013 intersected three zones of mineralization. At 92 meters down hole, IM-19-013 intersected 26.24 g/t Au over 2.4 meters meters infilling a vein corridor. Further down hole, IM-19-013 intersected quartz veins with pyrite mineralization that assayed 19.34 g/t Au over 17.9 meters including a sample that assayed 151.5 g/t Au over 0.50 meter and extended a modelled vein corridor 70 meters down dip. At 442 meters down hole, 350 meters from surface, this hole intersected 15.78 g/t Au over 5.35 meters, approximately 160 meters down dip of the nearest modelled vein corridor. Visible gold was observed in this hole.

True widths are estimated to be 50 to 75% of reported core length intervals. Intervals not recovered by drilling were assigned zero grade. Top cuts have not been applied to high grade assays.

A complete table of assay highlights for IM-19-001 to IM-19-015 is present below. The Shaft Zone 3D deposit model with assay highlights is located on the Company's website:

Barkerville Gold Mines Ltd. 3D Deposit Model

Mineralized quartz veins on the Cariboo Gold Project are overall sub-vertical dip and northeast strike. Vein corridors are defined as a high-density network of mineralized quartz veins within the sandstones. These corridors have been defined from surface to a vertical depth averaging 300 meters and remain open for expansion at depth and down plunge. Gold grades are intimately associated with vein-hosted pyrite as well as pyritic, intensely silicified wall rock haloes in close proximity to the veins.

Chris Lodder, President and CEO, comments, "again these drill results demonstrate the high probability to add significant resources below our present resources within the mineralized vein corridors on Island Mountain as well as connect the Shaft and Mosquito Creek zones".

Qualified Persons

As per National Instrument 43-101 Standards of Disclosure for Mineral Projects, Maggie Layman, P.Geo. Vice President Exploration, is the Qualified Person for the Company and has prepared, validated and approved the technical and scientific content of this news release. The Company strictly adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting its exploration activities on the Cariboo Gold Project.

Quality Assurance – Quality Control

Once received from the drill and processed, all drill core samples are sawn in half, labelled and bagged. The remaining drill core is subsequently stored on site at the Company's secure facility in Wells, BC. Numbered security tags are applied to lab shipments for chain of custody requirements. The Company inserts quality control (QC) samples at regular intervals in the sample stream, including blanks and reference materials with all sample shipments to monitor laboratory performance. The QAQC program was designed and approved by Lynda Bloom, P.Geo. of Analytical Solutions Ltd.

Drill core samples are submitted to ALS Geochemistry's analytical facility in North Vancouver, British Columbia for preparation and analysis. The ALS facility is accredited to the ISO/IEC 17025 standard for gold assays and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is crushed, and 250 grams is pulverized. Analysis for gold is by 50g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.01 ppm and upper limit of 100 ppm. Samples with gold assays greater than 100 ppm are re-analyzed using a 1,000g screen metallic fire assay. A selected number of samples are also analyzed using a 48 multi-elemental geochemical package by a 4-acid digestion, followed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) and Inductively Coupled Plasma Mass Spectroscopy (ICP-MS).

About Barkerville Gold Mines Ltd.

The Company is focused on developing its extensive mineral rights package located in the historical Cariboo Mining District of central British Columbia. Barkerville's Cariboo Gold Project mineral tenures cover 1,950 square kilometres; along a strike length of 67 kilometres which includes several past producing placer and hard rock mines, making it one of the most well-endowed land packages in British Columbia. Since the management change in mid-2015, the Company has unlocked the fundamental structural controls of gold mineralization. The Company's Brownfield's exploration team is focused on upgrading and expanding the May 2018 43-101 compliant resource within the 8 kilometers of principle project area located near the town of Wells, British Columbia. The Company's Greenfield's team is developing quality exploration assets throughout the remaining land package through systematic, scientific, exploration. The operation's team is focused on completing required studies in order to permit underground mining on Cow and Island Mountains.

Cautionary Statement on Forward-Looking Information
Neither the TSX Venture Exchange ('TSXV') nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Table 1: Length Weighted Gold Composites

HOLE ID


DEPTH
FROM (M)

DEPTH TO
(M)

LENGTH
(M)

AU
(G/T)



PURPOSE

TARGET

IM-19-001


71.00

75.00

4.00

7.64

Infill and
Exploration

Shaft Zone


Including

71.00

71.60

0.60

40.20




And

74.30

75.00

0.70

9.01





99.30

102.30

3.00

8.78




Including

100.70

101.35

0.65

23.40





127.00

131.00

4.00

4.94




Including

127.00

128.00

1.00

16.65





179.10

179.75

0.65

52.00





189.20

189.70

0.50

15.00





230.10

231.10

1.00

4.09



IM-19-002


243.30

244.30

1.00

4.82

Infill and
Exploration

Shaft Zone

IM-19-003


106.35

112.65

6.30

3.16

Infill

Shaft Zone


Including

106.35

106.85

0.50

11.55




And

111.90

112.65

0.75

11.60



IM-19-004


32.65

36.50

3.85

3.53

Exploration

Mosquito
Creek



57.00

57.80

0.80

5.46





60.00

62.95

2.95

3.74




Including

62.00

62.95

0.95

7.09





186.00

187.70

1.70

9.64




Including

186.00

187.20

1.20

13.10





398.40

402.60

4.20

10.65




Including

402.10

402.60

0.50

85.70



IM-19-005


160.65

166.15

5.50

5.94

Infill and
Exploration

Mosquito
Creek


Including

160.65

161.35

0.70

40.60



IM-19-006


295.10

295.60

0.50

5.49

Stratigraphic

Willow

IM-19-007


26.75

39.90

13.15

10.06

Infill and
Exploration

Shaft Zone


Including

27.35

27.90

0.55

15.15




And

36.00

37.00

1.00

10.45




And

37.00

37.90

0.90

76.40





190.00

192.00

2.00

12.42




Including

191.00

192.00

1.00

22.00



IM-19-008


282.25

283.00

0.75

48.80

Exploration

Mosquito
Creek



290.90

291.40

0.50

15.55





370.40

371.30

0.90

7.16





371.30

372.00

0.70

6.81





398.20

399.00

0.80

14.65





413.10

413.70

0.60

7.93



IM-19-009


18.90

20.40

1.50

13.15

Infill

Shaft Zone



49.90

51.50

1.60

6.06





60.35

61.40

1.05

16.40





71.30

72.00

0.70

4.20





298.50

299.70

1.20

5.12



IM-19-010


158.75

192.00

33.25

1.25

Exploration

Mosquito
Creek


Including

177.60

179.10

1.50

9.57





201.90

202.40

0.50

4.88





339.00

339.60

0.60

66.00



IM-19-011


40.75

41.25

0.50

4.96

Exploration

Shaft Zone



228.10

228.65

0.55

4.02



IM-19-012


136.00

136.80

0.80

3.18

Infill

Shaft Zone



147.20

148.40

1.20

6.35





150.50

151.00

0.50

4.55





153.90

158.25

4.35

5.18




Including

153.90

154.45

0.55

10.95




And

154.45

155.00

0.55

22.00





161.25

171.50

10.25

7.02




Including

161.25

162.00

0.75

7.96




And

162.00

163.40

1.40

31.40




And

169.25

170.60

1.35

11.45



IM-19-013


81.50

82.00

0.50

19.20

Infill and
Exploration

Shaft Zone



85.50

86.50

1.00

10.85





92.00

94.40

2.40

26.24




Including

92.00

93.50

1.50

38.10





111.50

129.40

17.90

19.34




Including

111.50

112.55

1.05

19.25




And

114.55

115.05

0.50

151.50




And

115.05

116.35

1.30

37.90




And

116.85

118.35

1.50

32.80




And

118.35

119.85

1.50

59.30




And

119.85

121.20

1.35

9.19




And

121.20

122.45

1.25

21.50




And

123.20

123.70

0.50

10.25




And

127.90

129.40

1.50

7.38





146.90

147.90

1.00

7.19





151.90

155.85

3.95

5.83




Including

151.90

153.00

1.10

8.25




And

155.30

155.85

0.55

23.10





332.10

335.40

3.30

5.16




Including

334.35

334.90

0.55

28.60





442.45

447.80

5.35

15.78




Including

442.45

443.00

0.55

15.70




And

445.35

446.35

1.00

31.40




And

447.15

447.80

0.65

59.60





460.05

460.55

0.50

3.68



IM-19-014


25.80

26.40

0.60

20.30

Infill

Shaft Zone



35.90

36.85

0.95

8.49





67.60

70.50

2.90

6.65




Including

70.00

70.50

0.50

29.50





92.85

93.40

0.55

8.51





149.50

150.00

0.50

13.45





155.35

156.50

1.15

6.42





182.80

183.85

1.05

28.09



IM-19-015


55.80

56.30

0.50

16.55

Infill

Shaft Zone



Table 2: Drillhole Collar Orientations:

HOLE ID

DIP

AZIMUTH

DEPTH
(M)

IM-19-001

-53

127

888

IM-19-002

-55

125

864

IM-19-003

-47

134

204

IM-19-004

-47

303

426

IM-19-005

-45

299

417

IM-19-006

-46

232

807

IM-19-007

-44

123

351

IM-19-008

-46

308

639

IM-19-009

-45

133

312

IM-19-010

-43

312

622

IM-19-011

-53

134

327

IM-19-012

-53

138

177

IM-19-013

-46

129

651

IM-19-014

-54

134

300

IM-19-015

-58

137

213



SOURCE Barkerville Gold Mines Ltd.


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